SAN FRANCISCO and LONDON, Jan. 24, 2019 /PRNewswire/ -- Humio, the only solution enabling live observability through fast, efficient and easily scalable log management, available for on-premises and cloud infrastructures, today announced it raised $9 million led by Accel. The funding will be used to grow the company's ability to fulfill demand from across global markets and expand the development of its unique platform.
Modern enterprises building software applications increasingly need full visibility of their entire system's behavior to immediately investigate and address issues. This requires instantly viewing and searching all data and metrics, regardless of where the application is hosted. Humio democratizes this live observability in one solution, by instantly collecting large volumes of log data and metrics and empowering all users to immediately understand, analyze, and troubleshoot anything from performance concerns to security threats.
"As companies adopt complex computing environments, the struggle of gaining live insights based on real-time data is a massive challenge. Our platform is purpose-built for today's modern environments. We are thrilled with the vast user enthusiasm received, rapid customer adoption, and deployment in many Fortune 500s, all of which contributed to our annual revenue increasing by over 13x this past year," said Geeta Schmidt, Humio's CEO. "Accel is a veteran investor with a successful history in software. Their support is a strong endorsement and will be critical as we accelerate our growth globally."
According to Gartner's Market Share Analysis: ITOM, Performance Analysis Software, Worldwide, 2017*, "digital business transformation is driving demand for modern monitoring tools that enable agile and flexible applications and infrastructure via DevOps toolchains." This analysis of IT operations management (ITOM) also states "this research note presents the results of key components of the ITOM market, which in 2017 reached $24.7 billion and grew 9.6% with respect to 2016."
Users of the Humio platform ingest large volumes of data daily, with many collecting multi-terabytes per day, across multiple teams and services within an organization, and cite the solution's flexibility and live observability as essential for modern businesses. Humio's customers are large organizations representing numerous industries including financial services, online retail, communications and cloud-based service providers such as Bloomberg, Microsoft, Netlify, Lunar Way, SpareBank 1, On the Dot, and Logibec.
"Humio's speed and real-time query and dashboarding capabilities provide us with an invaluable tool to observe the overall health of our system," said Mathias Biilmann Christensen, Netlify CEO and cofounder. "We have been impressed with the ease of use and the ability to make complex ad-hoc queries on demand. Given the complex nature of our multi-cloud infrastructure, Humio is the best solution we have found to manage our growing logging needs."
"Humio is completely rethinking how modern logging works to meet current customer environments, on prem or in the cloud, and users have been won over quickly by how delightful the solution is to use. This immediate adoption by the DevOps community shows how Humio is uniquely positioned to meet the growing needs of today's developers, providing a highly effective and better value solution," said Andrei Brasoveanu, Accel, who will join the board. "We look forward to partnering closely with Humio to help drive further growth across the globe."
Humio was founded in January 2016 with a clear mission - improve logging through flexibility and empower live observability for all. Industry veteran and VP of Engineering, Christian Hvitved, joined forces with CTO, Kresten Krab Thorup, and Schmidt, to solve the log management scaling challenges they observed first-hand across the industry. Humio received seed funding from West Hill Capital and Trifork, and has offices in San Francisco, the UK, and Denmark. It is currently hiring in all three locations.
* Gartner's Market Share Analysis: ITOM, Performance Analysis Software, Worldwide, 2017, Federico De Silva, July 9, 2018
Humio is the only solution enabling real-time observability through fast, scalable and efficient log data management. Deployable on any infrastructure including both in the Cloud and On-Premises, Humio enables data aggregation, exploration, reporting and analysis from a range of sources ingesting massive volumes of log data instantly. Humio's innovative data storage and in-memory search/query engine technologies provide customers a cost-competitive log management and analysis solution, all while requiring significantly less hardware and engineering resources. Humio has offices in London, San Francisco, and Aarhus, DK. For more information visit https://www.humio.com/ or follow @MeetHumio.
Accel is a leading venture capital firm that partners with exceptional founders with unique insights, from inception through all phases of private company growth. Atlassian, Algolia, Avito, Celonis, Cloudera, Crowdstrike, Deliveroo, DJI, Dropbox, Etsy, Facebook, Flipkart, Funding Circle, Kayak, Kry, QlikTech, Rovio, Slack, Spotify, Supercell, UIPath and WorldRemit are among the companies the firm has backed over the past 35+ years. The firm seeks to understand entrepreneurs as individuals, appreciate their originality and play to their strengths. Because greatness doesn't have a stereotype. For more, visit www.accel.com, www.facebook.com/accel or www.twitter.com/accel.